Micro Irrigation System Market worth $4,213.4 Million by 2018 growing at CAGR of 17.5%

According to the new report, "Micro Irrigation System Market by Type (Sprinkler Irrigation Systems, Drip Irrigation Systems), by Application (Agriculture Irrigation, Landscape Irrigation, Greenhouse Irrigation) - Global Trends & Forecast to 2018", published by MarketsandMarkets, the micro irrigation system market was worth $1,650 million in 2012 and is expected to reach $4,213.4 million by 2018, growing at CAGR of 17.5% from 2013 to 2018.

This report identifies the driving and restraining factors for the micro irrigation system industry. Detailed analysis of trends, opportunities and challenges are a part of the research done for this report. The market is segmented and revenues are forecasted on the basis of main geographical regions such as, North America, Europe, Asia-Pacific and Rest of the World (ROW), and sources, applications, and geographic trends and forecasts.

The global micro irrigation market is growing at an unprecedented rate over the last five years. The growth is largely fueled by the growing water scarcity concerns as well as resource and yield optimization. This growth is particularly higher in regions such as North America, Asia Pacific regions.

The drivers generating revenues are discussed in this report with in-depth analysis of current trends in industry. The important restraints are discussed in this report will ensure risk mitigation. First-mover's advantage in various regions is analyzed to project the market growth rate up to 2018.

North America: The Trendsetter for Micro Irrigation System Market

North America is the largest market for micro irrigation systems. This region has vast area under agriculture and cultivation. The North American region is the cradle of technological innovations for micro irrigation systems. Increasing awareness related to water management techniques, combined with resource management efficiency, has created massive demand for micro irrigation systems in this region.

The trend in micro irrigation system industry is shifting towards adopting the latest efficient technologies to save maintenance and operational costs. This has caused maximum product innovations in 2013.The leading market players are Deere & Company (U.S.), Netafim Ltd. (Israel) and Valmont Industries Inc. (U.S.).

The size of the micro irrigation systems market was derived by using forecasting methods based on the segments that make up the entire market, such as, types, applications, market players and the trade between various geographical regions. The biggest market players were acknowledged through secondary research and their market revenue was determined through both primary and secondary research. It includes the study of the annual reports of the top market players and interviews with key opinion leaders such as CEOs, directors, and marketing personnel.

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